Hi Please find attached the ebook.
Just a brief:-
* The Credit & Collections process starts with creation of an account.
* Once the account is created by Data Maintenance Team the Credit analyst works out the credit limit of the customer and if the customer is worthy enough to do business with. This is done by analysing the Company reports by different credit rating agencies like D&Bi, Finanacials, Trade Referances, etc.
* Once the credit limit is esteblished the orders are entered in the system by the order entry team. which is approved by the credit controller.
* Then the billing team invoices the customer.
* Once the invoice becomes due the Credit & Collections team starts following up with the customer in order to get the payment against the overdue invoices.
* Once the payments are received they are applied against the invoices as per remittance advise recived from customer,
* If there is any short payment received (Customer pays less than what they have been invoiced), also known as deductions, Credit & Collections team follows up with customer's AP and his own sales team to resolve the issues.
* Then at the end of every month the reconsciliation is done to ensure that the ledgers match.
Hope the ebook and the above process flow would be helpfull to you. :)
Wish you happy new year!!!!